French Prime Minister Sébastien Lecornu Resigns After Under a 30-Day Period in Power
The nation's PM Sébastien Lecornu has handed in his resignation, less than a day after his government team was unveiled.
The French presidency made the announcement after the Prime Minister met President Emmanuel Macron for an meeting on Monday morning.
This shock move comes only 26 days after Lecornu was appointed prime minister following the downfall of the prior administration of François Bayrou.
Parties across the board in the French parliament had strongly opposed the composition of Lecornu's cabinet, which was very close to the previous one, and promised to block its approval.
Calls for Early Elections and Political Instability
A number of factions are now calling for new parliamentary polls, with others calling for Macron to step down as well - even though he has always said he will not leave before his time in office finishes in five years from now.
"Macron needs to decide: calling new elections or leaving office," said Chenu, one of leading figures of the National Rally.
The outgoing PM - the former armed forces minister and a ally of the President - was the fifth French PM in a two-year span.
Context of Political Crisis
French politics has been markedly turbulent since mid-2024, when snap parliamentary elections resulted in a hung parliament.
This has posed obstacles for any prime minister to garner the necessary support to enact new laws.
The previous administration was rejected in autumn after the assembly refused to back his fiscal tightening package, which aimed to reduce public expenditure by 44 billion euros.
Financial Challenges and Stock Response
The French shortfall stood at 5.8 percent of economic output in 2024 and its national debt is more than the total economic output.
That is the third highest public debt in the eurozone after Greece and Italy, and equivalent to almost 50k euros for each resident.
Share prices dropped in the Paris exchange after the announcement about the PM broke on Monday.
